Abstract
The effectiveness of corporate governance processes on global markets entails the adoption of ramified internal control systems, and the adaptation of the variables that are significant to this end to respond to the evolution of surrounding conditions. Analysis of the changes that have taken place in the main variables on which global companies concentrate their attention and their controls reveals, in particular, a growing need to evolve from the dominance of tangible components to a situation that takes intangible assets into due consideration. We refer to the corporate culture and the information system which represent both elements on which the effectiveness of governance processes is based and factors to be monitored with suitable internal control procedures.
Highlights
Global markets impose the adoption of governance systems designed to promote management, control and communication processes, able to simplify a company’s success in an increasingly complex economic context
Modern economic systems reveal the spread of general strategies designed to regulate access to capital markets, the growing dynamism of the buying and selling markets and the increasingly
The achievement of optimal conditions of corporate effectiveness presupposes, above all, emphasis on the relations between corporate governance and internal control systems, the dissemination at all organisational levels of shared values and attitudes based on fairness, correctness and transparency, the drafting of suitable information and constant verification of their suitability in the evolving conditions
Summary
Global markets impose the adoption of governance systems designed to promote management, control and communication processes, able to simplify a company’s success in an increasingly complex economic context. In consideration of the interdependence between top management decisions and organisational behaviour, the effectiveness of governance demands the adoption of increasingly broad, comprehensive internal control systems – based on a culture that is shared and disseminated throughout the company, and on complex information systems – able to monitor and to immediately call attention to any changes in the factors that are crucial for the company’s success. The achievement of optimal conditions of corporate effectiveness presupposes, above all, emphasis on the relations between corporate governance and internal control systems, the dissemination at all organisational levels of shared values and attitudes based on fairness, correctness and transparency, the drafting of suitable information and constant verification of their suitability in the evolving conditions. The corporate culture and information system are intangible resources that are essential for the effectiveness of the governance process and factors to be monitored constantly as part of the internal control processes
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